JACOBS & CELTICS BOTH KEEP AN EYE ON MEGAPLEX DEALINGS

The potential of a 60,000-seat stadium in downtown Boston as
part of a megaplex is a "concern" to Jeremy Jacobs, owner of the
Bruins and the new FleetCenter. Until this point, Jacobs and his
tenant, the Celtics, have "proceeded on the basis of pure need --
a true symbiotic relationship," according to the BOSTON GLOBE's
Joan Vennochi. At the new FleetCenter, the two parties have a
10-year lease, with Jacobs holding the option to extend it to 15
years in year five; the Celtics pay rent of $1 a year; Jacobs
keeps all concession sales; all ticket revenue goes to the
Celtics, with team's per game take estimated at $800,000. But
despite the agreement, Jacobs' "concern" with Patriots Owner
Robert Kraft and a new facility "rests in what else takes place
down the road in a new sports complex." Celtics President Steve
Schram said he believes Jacobs is "very concerned" about
competition and about the Celtics' future at FleetCenter. And
Schram "isn't shy about stocking such worries." Schram: "We're
purely a tenant. If someone were to come to us and say, 'We've
got a facility, would you consider it down the road?' I think
we'd have to in terms of our interest." Larry Moulter, President
of New Boston Garden Corp., said FleetCenter can "coexist" with a
60,000-seat stadium, but added, "If they begin to behave and look
like an arena, that is a serious problem, not just to the owner,
but to the banks." Moulter expects the Celts to "honor their 15-
year deal" (BOSTON GLOBE, 5/24).